If you’re looking for ways to increase your profitability, focus your attention on the four profit determining factors: Price How much you charge a customer for a product/service will obviously drive profitability. An increase in price may result in less sales but the resulting positive effect to gross margin may offset the lower volumes to … Continued
Recently, I had the privilege of meeting with a group of financial professionals to discuss CFO/Controller succession planning. The subject was topical given findings from a 2013 study authored by the Financial Executives International Canada, the Canadian Financial Executives Research Foundation and Robert Half that cited only about one-third of SME private businesses had developed … Continued
On March 18th, Prime Minister Harper announced a total of $50 million over five years to support export market development.
Previously, I wrote a blog about business value drivers and how certain factors can impact the value of a business. Now I’d like to address what is probably the biggest value driver in any small to medium enterprise – you as the business owner.
Your accountant can advise you on financing options, investments, future planning and of course, strategies to minimize your tax payments. Business owners operating without this professional support may be tempted to underreport earnings so as to lower their tax obligations but this type of fraud comes with significant risk. New ESS software (commonly known as … Continued
What happens to your business when you accept an investor is dependent on the type of investment and the investor. Investments can take different forms: Debt or loan – this is similar to bank financing where the company records the liability and pays interest on the loan amount. If you have bank covenants, then you … Continued
We all know about the underground economy – a quiet, cash-in-the-pocket exchange for a product or service. For many people, conducting business in this manner is considered a ‘win-win’ since tax savings are had on both sides of the transaction. But are you really coming out ahead when you put your reputation and credit rating … Continued
“It’s different this time.” That was how Peter Hall, Vice-President and Chief Economist for Export Development Canada introduced his presentation at a recent Burlington Economic Development Corporation breakfast. The promise of ‘different’ got everyone’s attention. Hall believes that things are finally on the way up with a revival of confidence pointing to a … Continued
Given the current economic climate, where we are seeing increased M&A activity within our client base, it is important for business owners to start to think about and focus on activities that they can undertake to enhance the value of their business.
It’s a new year with lots to think about.
New tax relief measures shouldn’t be one of them.